Accounting for real wealth in heterogeneous-endowment public good games
Identificadores
URI: http://hdl.handle.net/10481/31574Metadatos
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Universidad de Granada. Departamento de Teoría e Historia Económica
Materia
Public goods Experiments Endowment heterogeneity Real wealth
Fecha
2011Referencia bibliográfica
Georgantzís, N.; Proestakis, A. Accounting for real wealth in heterogeneous-endowment public good games. Universidad de Granada. Departamento de Teoría e Historia Económica (2011). (The Papers; 10/20). [http://hdl.handle.net/10481/31574]
Patrocinador
Financial support was received by the Junta de Andalucia, grant P07-SEJ-003155.Resumen
Wealth heterogeneity infuences people's behavior in several socioeconomic environments, especially when groups consisting of "unequal" members have to take a collective action which affects all members equally or proportionally. After eliciting real out-of-lab wealth, we form 4-player groups playing an one-shot public good game with heterogeneous laboratory endowments. Endowing subjects according or against their real wealth gives rise to a series of interesting results. Endowment heterogeneity, lack of real relative wealth information and being "rich" both inside and outside the lab raise contributions. Finally, when eliciting subjects' beliefs, we find out that only relatively "poor" subjects expect others to contribute more than what they actually are prepared to do theirselves.